An Indian tax agency has found that British insurer Aviva breached local regulations capping commissions to sales agents with a system of fake invoices and clandestine cash payments, according to a notice seen by Reuters. In an attempt to grow …
An eye-popping $17 billion wipeout in market value has made Life Insurance Corp. of India one of the biggest wealth destroyers among Asia’s initial public offerings this year. Having plunged 29% since its May 17 debut, India’s biggest ever IPO …
India’s Digit Insurance, backed by Canadian billionaire Prem Watsa’s Fairfax Group, is considering raising about $500 million in an initial public offering at a valuation of $4.5 billion to $5 billion, three people aware of the matter told Reuters. Founded …
Shares in Life Insurance Corp. of India (LIC) slid 6% in their market debut on Tuesday, a fresh setback for the state-owned giant after its IPO, while record-breaking, raised far less for the government than initially envisioned. India’s biggest insurer …
India’s Life Insurance Corp. (LIC) has priced its initial public offering at the top of the indicated range, at 949 rupees ($12.28), a source familiar with the matter said on Friday. The state-owned insurance behemoth is likely to be listed …
Foreign institutional investors have on the whole steered clear of India’s biggest share sale, deeming it too expensive given currency risks and the global market backdrop. With just hours to go until the end of the subscription period for the …
The record $2.7 billion initial public offering (IPO) by India’s Life Insurance Corp. (LIC) was oversubscribed on Thursday, helped by attractive pricing, making way for gains over the listing price later this month. Investors bid for 166.9 million shares by …
India slashed the size of its biggest initial public offering by about 60%, pressing ahead with the sale even as the war in Ukraine continues to weigh on investor demand. Prime Minister Narendra Modi’s government will sell 221.4 million shares …
New Delhi is halving its fundraising goal for Life Insurance Corp. of India’s IPO to 300 billion rupees ($3.9 billion), having had to cut its valuation estimates after feedback from investors, a government source said. The drastic lowering of ambitions …
India aims to launch its $8 billion listing of state-run Life Insurance Corp. (LIC) by mid-April, two government sources said, after delaying what will be the country’s biggest ever IPO from this month due to market volatility. The government aims …
